Press release: Talks at COP16 in Colombia suspended without decision on financing reached

Press release: Talks at COP16 in Colombia suspended without decision on financing reached

After an intense 2 weeks of negotiations at COP16,  talks have been suspended at the final hurdle around the topic of resource mobilisation and financing.

Talks carried on through the final night of the conference and were suspended this morning with a number of delegates leaving to return to their home countries. Many countries voiced their frustration at important financing and resource mobilisation issues being left until the final moment. COP16 has now concluded with no clear way forward to address the financing gap to reverse biodiversity loss at a global level. Only 12 governments have voluntarily contributed to the global biodiversity fund which amounts to 396 million dollars, a far cry from the 700 billion needed to effectively implement the goals of the Kunming-Montreal Global Biodiversity Framework and effectively restore biodiversity.

There has been an impasse due to developed countries wanting text agreed on the monitoring and reporting aspects of the agreement and developing countries needing sufficient funds for conservation actions to occur as well as resources to put together monitoring and reporting plans. The next COP will be held in Armenia in 2026 when Ireland holds the presidency in the EU Council. This means Ireland will be a key voice of the EU during negotiations. A huge amount of work will be needed to make progress on the issues not addressed at this COP.

Sufficient progress has not been achieved on other key elements of the Kunming-Montreal Global Biodiversity Framework, including the adoption of National Biodiversity Strategies and Action Plans (NBSAPs) and tackling harmful subsidies. As extreme weather events increase in frequency and biodiversity loss is at an unprecedented level, this delay is something we can’t afford.

Grace Carr, Marine Advocacy Officer with the Irish Wildlife Trust stated , ‘It’s extremely disappointing that the transformative change needed to address biodiversity loss has not been achieved and discussions on how to close the financing gap will still be ongoing 4 years after the initial decision to protect 30% of land and sea by 2030. Why was one of the most important issues around this COP left until the final hour to discuss? Other agreements have been reached over the past 2 weeks, but without ambitious funding and resource mobilisation mechanisms, how can countries achieve these goals?’

ENDS

 CONTACT:  Grace Carr, grace@iwt.ie